Summary of Nordea Bank FY Conference Call - September 08, 2025 Company Overview - **Company**: Nordea Bank (OTCPK:NBNK.F) Key Industry Insights - **Bank Taxation**: No significant political pressure for new bank taxes in Nordic countries, despite existing taxes in Sweden and higher corporate tax rates in Denmark and Norway [3][3] - **Net Interest Income**: Resilience observed in net interest margin, expected to stabilize around 2% in the coming years. Further rate cuts could be damaging [5][5] - **Customer Behavior**: Increased interest in deposits and asset management products as rates decline, indicating a shift in customer preferences [8][8] Financial Performance and Targets - **2025 Targets**: Confident in achieving above 15% Return on Equity (ROE) and a cost-income ratio of 44% to 46% [4][4] - **Loan and Deposit Growth**: Strong competition in lending, with market share gains in Sweden, but challenges in Denmark due to aggressive competitors [6][6][36][36] Cost Management - **IT Expenses**: Elevated IT expenses due to significant investments in technology and risk management, with a commitment to cap cost growth at 2% to 2.5% for 2025 [14][15][19][19] - **Employee Reduction**: Anticipated reduction in full-time employees due to technology investments and automation in financial crime prevention [16][18][18] Asset Quality and Risk Management - **Asset Quality**: Robust asset quality with low incidence of specific provisions; no major areas of concern identified [20][20] - **Regulatory Risks**: Ongoing Danish AML court case expected to take nearly a year for resolution, with adequate provisions in place [22][22] Capital Strategy - **M&A Activity**: Interest in bolt-on acquisitions remains, particularly in banking portfolios and life insurance, but no acquisitions announced for the year [25][25][26][26] - **Capital Returns**: Focus on returning excess capital to shareholders through buybacks if no suitable investment opportunities arise [26][26] Future Outlook - **Financial Targets**: Upcoming Capital Markets Day expected to provide updates on financial targets and growth strategies [31][31][32][32] - **Market Share Gains**: Strongest performance in Sweden, with efforts to regain ground in Denmark and maintain growth in Finland and Norway [36][36][37][37] Conclusion - **Overall Sentiment**: Nordea Bank expresses confidence in meeting financial targets, maintaining asset quality, and strategically managing costs while exploring growth opportunities through acquisitions and market share expansion.

Core Points - Danske Bank announced a share buy-back programme totaling DKK 5 billion, with a maximum of 45,000,000 shares, running from 10 February 2025 to 30 January 2026 [1] - The programme is conducted in compliance with the Market Abuse Regulation and Safe Harbour Rules [2] Transactions Summary - In week 35, the following transactions were executed on Nasdaq Copenhagen A/S under the share buy-back programme: - Accumulated shares before week 35: 10,734,503 shares at a VWAP of DKK 240.1261, with a gross value of DKK 2,577,634,192 [3] - Transactions during week 35 included: - 25 August 2025: 50,000 shares at DKK 275.2011, gross value DKK 13,760,055 - 26 August 2025: 119,791 shares at DKK 269.4953, gross value DKK 32,283,111 - 27 August 2025: 50,000 shares at DKK 264.7058, gross value DKK 13,235,290 - 28 August 2025: 100,000 shares at DKK 263.2666, gross value DKK 26,326,660 - 29 August 2025: 100,000 shares at DKK 261.6748, gross value DKK 26,167,480 [3][4] - Total shares bought back in week 35 amounted to 419,791 shares at a VWAP of DKK 266.2577, with a total gross value of DKK 111,772,596 [4] - Cumulatively, during the share buy-back programme, a total of 11,154,294 shares have been repurchased at an average price of DKK 241.1095, with a total gross value of DKK 2,689,406,788 [4] - The total number of own shares acquired corresponds to 1.336% of Danske Bank's share capital [4]

Core Viewpoint - Danske Bank has initiated a share buy-back programme totaling DKK 5 billion, aiming to repurchase up to 45 million shares from February 10, 2025, to January 30, 2026 [1][2]. Group 1: Share Buy-Back Programme Details - The share buy-back programme is conducted in compliance with the Market Abuse Regulation and Safe Harbour Rules [2]. - As of the last announcement, Danske Bank has repurchased a total of 10,489,418 shares at an average price of DKK 239.3712, amounting to a gross value of DKK 2,510,864,911 [3]. - In week 34, the bank repurchased an additional 245,085 shares at an average price of DKK 272.4332, with a total gross value of DKK 66,769,281 [4]. Group 2: Accumulated Share Statistics - The total number of shares repurchased during the entire buy-back programme has reached 10,734,503, representing 1.286% of Danske Bank's share capital [4].

Core Points - Danske Bank has initiated a share buy-back programme totaling DKK 5 billion, with a maximum of 45 million shares to be repurchased from February 10, 2025, to January 30, 2026 [1][2] - The programme is compliant with the Market Abuse Regulation and the Safe Harbour Rules [2] - In week 33, Danske Bank repurchased a total of 213,365 shares, bringing the total accumulated shares repurchased to 10,489,418, which is 1.256% of the bank's share capital [3][4] Summary of Transactions - The share buy-back transactions in week 33 included: - August 11, 2025: 20,000 shares at a VWAP of DKK 265.7788, gross value DKK 5,315,576 - August 12, 2025: 50,000 shares at a VWAP of DKK 268.6813, gross value DKK 13,434,065 - August 13, 2025: 49,946 shares at a VWAP of DKK 271.6575, gross value DKK 13,568,205 - August 14, 2025: 43,666 shares at a VWAP of DKK 273.7214, gross value DKK 11,952,319 - August 15, 2025: 49,753 shares at a VWAP of DKK 273.5017, gross value DKK 13,607,530 - The total gross value of shares repurchased in week 33 amounted to DKK 57,877,695 [3]

Core Viewpoint - SalMar ASA has issued NOK 1,500 million in new senior unsecured green bonds, consisting of NOK 1,000 million in an 8-year fixed tranche and NOK 500 million in a 7-year floating rate tranche, with specific coupon rates [1][2] Group 1: Bond Issuance Details - The fixed tranche has a coupon rate of 5.15%, while the floating rate tranche is priced at 3mN+135bps per annum [1] - The bonds will be listed on the Oslo Stock Exchange, with a settlement date set for 22 August 2025 [1] Group 2: Management and Additional Offerings - Nordea acted as the Sole Lead Manager for the bond transactions, with other banks including Danske Bank, DNB, and SEB serving as Joint Lead Managers [2] - The company is considering offering an additional NOK 500 million in bonds within the 7-year tranche, subject to market conditions [2]

Danske Bank is removing over 1,700 fossil fuel-related companies from its investment universe, citing their failure to prepare for climate change https://t.co/VbXh6DaZJw ...

Core Viewpoint - Danske Bank has initiated a share buy-back program totaling DKK 5 billion, aiming to repurchase up to 45 million shares from February 10, 2025, to January 30, 2026 [1][2]. Group 1: Share Buy-Back Program Details - The share buy-back program is conducted in compliance with the Market Abuse Regulation and the Safe Harbour Rules [2]. - As of the last announcement, Danske Bank has repurchased a total of 10,017,076 shares, with a gross value of DKK 2,385,384,137 and a volume-weighted average price (VWAP) of DKK 238.1318 [3]. - In week 32, a total of 258,977 shares were repurchased at a VWAP of DKK 261.0389, amounting to a gross value of DKK 67,603,079 [3]. Group 2: Accumulated Shares and Capital Impact - The total number of shares repurchased under the program now stands at 10,276,053, which represents 1.231% of Danske Bank's share capital [4].

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Company announcement no. 36 2025 Danske Bank Bernstorffsgade 40 Tel. + 45 33 44 00 00 04 August 2025 Page 1 of 1 Danske Bank share buy-back programme: transactions in week 31 On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as de ...

Core Viewpoint - Danske Bank has initiated a share buy-back program totaling DKK 5 billion, aiming to repurchase up to 45 million shares from February 10, 2025, to January 30, 2026 [1]. Group 1: Share Buy-Back Program Details - The share buy-back program is conducted in compliance with the Market Abuse Regulation and Safe Harbour Rules [2]. - As of the last announcement, Danske Bank has repurchased a total of 9,118,764 shares, with a volume-weighted average price (VWAP) of DKK 236.1485, amounting to a gross value of DKK 2,153,382,484 [3]. - In week 30, the bank repurchased an additional 363,566 shares at a VWAP of DKK 256.1656, totaling a gross value of DKK 93,133,101 [4]. Group 2: Accumulated Transactions - The total number of shares repurchased during the entire buy-back program has reached 9,482,330, with an overall VWAP of DKK 236.9160, resulting in a total gross value of DKK 2,246,515,585 [4]. - The shares repurchased represent approximately 1.136% of Danske Bank's total share capital [4].

Core Points - Danske Bank announced a share buy-back programme totaling DKK 5 billion, with a maximum of 45,000,000 shares, running from 10 February 2025 to 30 January 2026 [1] - The programme is conducted in compliance with the Market Abuse Regulation and Safe Harbour Rules [2] Transactions Summary - In week 29, a total of 635,934 shares were repurchased at an average price of DKK 255.6258, amounting to a gross value of DKK 162,561,116 [3] - The total number of shares repurchased under the programme has reached 9,118,764, representing 1.092% of Danske Bank's share capital [4]